Shares of XUNCE (03317) surged more than 16% during the trading session. At the time of writing, the stock was up 8.54% to HK$132.2, with a turnover of HK$476 million.

On the evening of June 29th, XUNCE Technology signed a cooperation framework agreement with the Beijing Data Exchange. This collaboration signifies a further deepening of the company's strategic positioning within the data element market and its engagement with a national-level data trading platform. It represents a crucial step for the company in implementing its data tokenization capabilities within vertical industries, facilitating the circulation of embodied intelligent data, providing digital assetization services, and co-building a specialized data ecosystem in the biotech and healthcare sectors.

Notably, XUNCE's Token-based Annual Recurring Revenue (ARR) for May saw a substantial month-on-month increase of 320%. The proportion of token-based paid revenue exceeded 5%, with a year-end target to raise this figure to between 20% and 30%. This shift marks a transition from a project-based model to a token consumption-based billing model. Consequently, the revenue structure is evolving from a "one-time" to a "recurring" model and moving from being "labor-driven" to being "product-driven." The significant sequential jump in ARR demonstrates that customers are willing to pay continuously for the quantifiable value of tokens, rather than simply purchasing a software package.